Dhanin Chearavanont, one of the richest men in Thailand, has approached Tesco to buy its business Tesco Lotus in a multi-billion pound deal. The billionaire was rejected but is considering another bid.
Mr Chearavanont already controls the retail group Siam Makro in Thailand and acquiring Tesco Lotus would increase his control of the market.
Tesco Lotus operates more than 1,700 stores in Thailand and is one of Tesco’s more successful projects. The company is said to be worth around $10 billion (£6.6 billion) but there is no public indication of a deal taking place between Mr Chearavanont and Tesco.
Tesco is however considering selling part or all of Dunnhumby, the analytics business involved in the Clubcard loyalty scheme. Goldman Sachs has been appointed by Tesco to explore strategic options for Dunnhumby, which has been valued at as much as £2bn.
Chief executive, Dave Lewis has insisted that Clubcard remains a “very important part” of Tesco’s offer to shoppers.
